News
Federal regulation may increase compliance burden, head of op risk warns
US insurers dealing with potentially heavier load from federal regulation and the Orsa
CCPs in Japan, Mexico, Singapore and US to jump through Esma hoops
Eleven CCPs say they will apply to Esma for approval – sparing European members a capital hit – but Canada's CDCC has no plans to go through the process
Campbell opens non-trend programs to investors
CTA Campbell & Company’s Prism portfolio of non-trend strategies has generated strong returns since it launched as a standalone investment in April
Swedish life insurers weigh occupational pensions spin-off ahead of Solvency II
Directive threatens to put hybrid pensions providers at a competitive disadvantage and force them to split-up businesses
Implementation of Basel III capital ratios on Korean banks to drive subordinate debt issuance
Basel III capital requirements in Korea expected to dampen down M&A and ramp up issuance of subordinated debt
Risk Australia: Clearing broker collateral replacement mechanisms could put asset managers in breach of client mandates
Third-party collateral requirements not acknowledged in current standard clearing broker contracts
Hedge funds’ registered AUM tops $4 trillion according to SEC data
The Securities and Exchange Commission has reported data collected under Dodd-Frank showing total regulatory AUM, which includes financial leverage, for hedge funds is over $4 trillion
Six Swiss Exchange readies launch of delayed OTC platform
The XBTR electronic trading platform is scheduled for launch on August 18 and aims to improve the buying, selling and settling of OTC trades in Switzerland
Credit Suisse poaches Munich Re CRO, and other recent job moves
Tobias Guldimann moves to newly-created risk position, and other Changing Hats stories from the last month
AIFMD confusion threatens banks issuing offshore SPV structured products
The Financial Conduct Authority has exempted structured products from the Alternative Investment Fund Managers Directive in the UK, but products issued by offshore special purpose vehicles could still be caught under the new rules
Energy end-users may miss Dodd-Frank reporting deadline
Energy derivatives end-users face uphill struggle to comply with reporting rules when no-action relief expires
Deutsche Bank loses €94 million on CVA mismatch
Hedges worked as capital mitigant, but generated an accounting loss, bank says
Insurers oppose Eiopa power grab
A new European supervisor would be ‘unpleasant’ for the insurance industry
Regulatory indecision holds up equity derivatives trades in China
Two different sets of master agreements cause stalemate between banks and securities firms
CPSS, Iosco and FSB publish reports on FMIs
CPSS and Iosco says member states are making ‘substantial progress’ towards establishing their principles for financial market infrastructures
Trade repositories eye Remit opportunity
Entities backing trade repositories for OTC derivatives show interest in registering as RRMs
FX markets in mid-year lull as yen volatility dries up
The yen has become more range-bound following its dramatic fall earlier in the year, creating a lull in FX market activity during the western summer weeks
Hubs will not fix clearing certainty issue, critics claim
Rival services from Markit and Traiana are gaining support, but detractors claim the hubs could be made redundant by CCP credit checks
Cat bond sponsors tempt investors with diversified perils and geographies
Innovative structures seek to break dominance of US wind peril over ILS market
Barclays leverage explosion baffles experts
Regulatory specialists unable to explain jump in leverage exposure at UK bank - the incoming ratio lacks clarity, say critics
US AML bill doubted by industry expert
Proposal to disclose identities of persons behind corporations is questioned
RBI policy document pushes CCIL closer to QCCP status
Indian regulator takes explicit responsibility for supervising the Mumbai-based clearing house
Head oil trader leaves Barclays
Shake-up at Barclays continues as George Cultraro, global head of crude oil and refined products, leaves the bank
US regulators 'hostile' to digital currencies
EU regulators have yet to consider their approach to currencies such as Bitcoin